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Bob Moriarty from 321 Energy provides a brief explanation of the fundamentals -  excerpt: I've made it clear for a year that I believe we have entered what will be the most serious depression in history. It also will involve the greatest transfer of wealth in history. There are two basic classes of assets. There are paper assets and real assets. An ounce of gold is a real asset. A copper mine is a real asset. A house is a real asset. An oil field is a real asset. Over the counter derivatives now total over $596 trillion dollars, (click here [pdf]) ten times the size of the world economy. Those are paper assets, their value is derived from some other asset. That derivative size is what is going to destroy the world's financial system, it's all fraud. A mortgage is a paper asset. A T-Bill or T-Bond is a paper asset. A $100 bill is a paper asset. It's pretty easy to see that a $500,000 mortgage on a house now worth $250,000 isn't worth very much. Latest figures show 9.6 million homes in the US have negative equity. How many of those loans are going to be paid back? According to an ex-Fed Director, both Fannie Mae and Freddie Mac are bankrupt. They were leveraged 65-1. For those comforted by the thought of the FDIC bailing you out should the banking system fail entirely, you need to realize the FDIC is leveraged at 130-1. We are told that the collapse of Washington Mutual alone could bankrupt the FDIC. In a depression, no real assets appear or disappear. Paper assets, on the other hand, turn to vapor. But the ownership of real assets will change as the real assets move from weak hands into strong hands.

Good argument explaining the relationship between tax rates and tax receipts. excerpt: Economics and a degree of common sense also tells us that we will always be more cautious in spending our money than a third party will be. Milton Friedman used this brief explanation to drive home the point. There are four ways to spend money. You can spend your money on yourself, and when you do both the cost of the product and the quality matters. You can spend your money on someone else, in this case cost matters but quality is not as important. Other people can spend other people's money on themselves, in this case cost doesn't matter, as it is not your money, but quality does as you are buying the product or service for yourself. Finally, the most inefficient method to spend money of the four is other people, spending other people's money, on other people. Cost doesn't matter because it is not your money and quality doesn't matter because it is not your product or service either. In the final case, I just described to you government spending. And, to be clear, government spending is taxation, while deficit spending is future taxation plus interest. It cannot be any other way. Arguing that accumulating debt on your personal credit card is not going to require you to take money from your account in the future to pay the debt is foolish, therefore, why would you think that the national credit card would obey a different set of economic rules? Finally, we are frequently rhetorically assaulted by the "fair share" moralists on the left. ....................... This is an argument where they are correct on principle and completely devoid of substance regarding evidence...........

Excellent historical background to the Agenda 21 effort to regulate private property and eventually put all private property under the control of the UN regional governments. "Since the early 1970s there has been a systematic and deliberate effort to destroy private property rights in America through the warm and fuzzy goal of sustainable development. David Rockefeller co-founded the Club of Rome in 1968 as an elite, somewhat occult think tank. The Club of Rome published Limits to Growth in 1972, which called for severe limits on human population and state control of all development in the world to achieve "sustainable development." Sustainable development was eventually formalized into a United Nations global action plan called Agenda 21, which President Bush committed the U.S. to at the 1992 Earth Summit in Rio de Janeiro. President Clinton put into action by the creation of Sustainable America in 1996. If fully implemented, private property rights will be a thing of the past. Concurrent to Limits of Growth, New York's Governor Nelson Rockefeller introduced legislation to create the Adirondack Park Agency in 1971 patterned after Limits of Growth. It was so successful that Nelson's brother-Laurence Rockefeller-commissioned and led a study entitled Use of Land: A Citizen's Policy Guide to Urban Growth as a set of goals for America. Published in 1973, the nationally based Use of Land was a companion to the Club of Rome's internationally based Limits of Growth. The Use of Land was edited by William Reilly, who would later be appointed by George H. W. Bush as the administrator of the Environmental Protection Agency in 1989. Reilly also attended the 1992 Earth Summit in Rio de Janeiro, where he advised President Bush to sign the UN Agenda 21, thereby committing the United States to Agenda 21. Although utterly evil, the Rockefeller's effort to destroy the constitutional basis of property rights was brilliant. The thrust of the Use of Land report sup

Very interesting article on property rights in Virgina, and the how local citizens are fighting against government politicians and their kleptocracy to protect those rights......... excerpt: "A previously apolitical organic farmer in Virginia has set off a property rights revolution that would make Founders Thomas Jefferson, James Madison, and author of Virginia's Declaration of Rights George Mason proud. Martha Boneta had a business license for her tiny farm store in scenic Paris, Virginia, yet she was threatened with fines of up to $5,000 per violation per day for selling organic tea and wool products crafted from her rescued animals, and for hosting a birthday party for eight 10-year-old girls. Officials from Fauquier County using zoning ordinances to bully Mrs. Boneta never obtained a warrant nor set foot on her property to gather actual evidence.  Instead a county bureaucrat relied on unscrupulous, unlawful methods to make these charges against Mrs. Boneta.  Her store remains closed out of fear of further uncertain charges carrying even criminal penalties.  The bullying bureaucrat ignored due process of law and American rules of evidence because she thinks she is the law, which is a common phenomenon used to intimidate citizens into forfeiting their rights. The county also tried to cite Martha for having a boarding facility without a permit.  It appears that the county did not like the fact that she and Christian college students interning on Spring Break openly prayed over the crops and farm animals.  To cure this government lawbreaking and protect farm rights, Delegate Scott Lingamfelter introduced H.B. 1430, the Boneta Bill, to amend the Virginia Right to Farm Act.  As introduced, the bill would have done three things: (1) clarify that the flawed, toothless Right to Farm Act protects farmers' commerce, (2) expressly protect constitutional rights on farms, and (3) provide remedies against local government officials who violate the Right to Farm Act."

ICLEI is a UN Agenda 21 initiative.  It's a direct assault on property ownership rights.  I had my own first hand view of these Marxists at work in the small town of Belmont California, when the Fire Chief presented a plan to turn 2/3rd's of the cities land over to the State by declaring it "a risk fire hazard zone".  The declaration would move the 2/3rds to State control and regulation, dramatically increasing the costs of building codes compliance and insurance, while effectively ending development and property improvement.  It would also end the sale of homes in these sectors since Home Owners insurance and property compliance would be prohibitively expensive.  Agenda 21 at work.  Right next door.   From TeaPartyORG:  http://goo.gl/QHIOS ......   "The International Council for Local Environmental Initiatives (ICLEI) is a conglomerate of 600 national, regional, and local government associations who promote "sustainable development" and protection of the environment because of man-made global warming that does not exist. "Sustainable development" is the United Nations effort to contain and limit economic development in developed countries and thus control population growth. It is "sustainable de-growth," plain and simple. The focus is "low-income agriculture" and to set limits on the developed world. United Nations and its affiliates believe that first world countries polluted significantly during their development while urging third world countries to reduce pollution thus impeding their growth. Implementation of"sustainable development" would revert our society to a pre-modern lifestyle. ICLEI wants to keep the environment as pristine as possible through "ideal-seeking behavior." These euphemisms are not clearly defined in terms of what or who will evaluate or set the standards for this "ideal-seeking behavior." Agenda 21 sets up the global infrastructure to manage, count, and control assets. It is not concerned with

"In the week prior to the administration signing what should constitute an international climate treaty, one think tank, the Competitive Enterprise Institute, was subpoenaed for casting doubt on the agreement's associated science of climate catastrophe. As disturbing as such thuggery from state attorneys general would be in any case, the premise of the subpoena is faulty. The Competitive Enterprise Institute did not cast doubt on the dubious climate science. The actual data cast the doubt. The think tank and others have simply pointed out what the data show. It looks like thoughtcrime has now moved from George Orwell's novel "1984" to the twisted reality of our judicial system. Pointing out facts should never be a real crime. The Heritage Foundation's new Paris-bubble-popping science summary is also a case of letting the numbers tell a story. A story many never hear in the media-hyped spectacle that is international climate policy."

I needed some background regarding the founding documents and their position on individual property rights.  Google came back with this gem!   The basic argument i'm pursuing is that socialism is unconstitutional because it's based on the selective seizure and redistribution of wealth.  Meaning, not all citizens are equal before the law.  The complaints lodged against King George in the Declaration of Independence are very much about the colonist not having the same rights of Englishmen as those whom the King favors. excerpt: the purpose of the Declaration of Independence. "Not to find out new principles, or new arguments, never before thought of, not merely to say things which had never been said before; but to place before mankind the common sense of the subject . . . ."1 The "common sense of the subject" expressed in the Declaration of Independence was that a national civil government must be based upon the "Laws of Nature and of Nature's God." The laws of nature and of nature's God dictate that all men are equally endowed by their Creator with unalienable rights to "Life, Liberty and the pursuit of Happiness." In Jefferson's day, the common sense of the subject was that the pursuit of happiness included the unalienable right of the individual to acquire, possess, protect and dispose of property. Because the purpose of civil governments was to secure unalienable rights, violations of one's unalienable right of property were subject to civil sanction. Today, however, the common sense of the subject is quite the opposite. The modern idea is that civil government properly possesses all power over all subjects of property. Any rights that may exist are derived from the civil government. Any rights to property that a person has may be regulated, limited or revoked by the civil government in order to satisfy the "public interest." Some have advocated that there are no such things as rights, but merely social duties. There is a clear distinction betwee

Obama outlines his new Bill of Rights, very similar to the 1944 new Bill of Rights Roosevelt proposed, guaranteeing the right to food, shelter, clothing, healthcare, travel and education - among many things.  Obama demands a radically new interpretation of the Constitution where the Marxist Redistribution of Wealth is carried out as an Administrative function, by-passing the Courts, Congress, Taxpaying citizens, the legislative process and the Constitution itself.  Incredible!

Glenn Beck presentation juxta-positioning the swearing in "pledge to Uphold and Defend the Constitution" of Obama Socialist Democrats, and their statements in defiance of that same Constitution.  Sickening liars!

Those bastard banks have taken over $2 Trillion from the taxpayers, and are using this cash to invest in emerging markets instead of the USA.  The Feds are providing interest free money to central banks, which then are used to invest in emerging economies.  The bankers get the profits and USA taxpayers get stuck with the cost.   There is no possible upside for USA taxpayers unless of course you agree with Obama that the USA standard of living and extraordinary economic prosperity must be lowered before global economic equality can be achieved.  This isn't just about greedy bankers and self interested international corporations.  Wealth redistribution is now the official policy of our government.  And the Federal Reserve is carrying it out with unexpected zeal. The numbers are coming in.  The facts are on the table.  The USA is being gutted. excerpt:  Asian stock prices are shooting up, in part due to low interest rates in the U.S. Investors looking for higher yields are borrowing in U.S. dollars and then pouring that money "into countries that are growing more rapidly," said Stephen Cecchetti, chief economist at the Bank for International Settlements, the central banks' central bank, which warned early of the last asset bubble and is beginning to do so again. "That runs the risk of creating property and equity booms in those countries." About $53 billion has gone into emerging-market stock funds this year, according to data collector EPFR Global. Through Monday's trading, the broad MSCI Barra Emerging Markets Index this year was up 60.7%. Brazil was up 100%, and Indonesia had gains of 102.7%. Over the same period, the Dow Jones Industrial Average was up 11.5%.

Historically, high taxes have benefited from the loss of SALT due to their large number of tax deductions, which receive the maximum tax deduction of 40 % for their excessive state and local taxes.